NCERT Class 12 Economics Book 2023 : Microeconomics & Macroeconomics PDF

December 13, 2022

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Class 12th Economics contains the study of production, consumption and transfer of wealth, simple concepts of demand and supply etc. A wide range of concepts and mechanisms of resources are learned in Economics. One can enter the academic or the research field in Economics after the 12th grade. NCERT Class 12 Economics Book 2023 is the enhanced level of the 11th Class. There are two parts in Economics i.e. Microeconomics and Macroeconomics.

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The National Council of Education Research and Training published the Economics Book for class 12th. NCERT follows the guidelines of CBSE and accordingly the syllabus is set as per the subject. NCERT Book Class 12 Economics is useful for the board exam as well as competitive exams. One can have the e-books of class 12th economics by visiting the NCERT official site.

CBSE Class 12 Overview

Contains

NCERT Class 12 Economics Book
Exam Name	CBSE Class 12 Board Exam
Conducting Body	Central Board of Secondary Education.
Medium	English/Hindi
Exam Frequency	Once a year
Official Website	https://www.cbse.gov.in/

NCERT Economics Books For The Class 12

12th grade economics books contain two parts. Students can download the pdf of chapters individually or the complete book. Download through the link mentioned here

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NCERT Book For Class 12th Economics PDF (Microeconomics in English)
NCERT Book For Class 12th Economics PDF (Macroeconomics in English)
NCERT Book For Class 12th Economics PDF (Microeconomics in Hindi)
NCERT Book For Class 12thEconomics PDF ( Macroeconomics in Hindi)

Check The Contents As Per The Chapters In 12th Economics Book

Microeconomics (English)

NCERT Class 12 Economics Book on Microeconomics for English Medium
Units	Topics
Unit 1: INTRODUCTION	A Simple Economy Central Problems of an Economy Organisation of Economic Activities: The Centrally Planned Economy, The Market Economy Positive and Normative Economics Microeconomics and Macroeconomics Plan of the Book
Unit 2: THEORY OF CONSUMER BEHAVIOUR	Utility The Consumer’s Budget Optimal Choice of the Consumer Demand Market Demand Elasticity of Demand
Unit 3: PRODUCTION AND COSTS	Production Function The Short Run and the Long Run Total Product, Average Product and Marginal Product The Law of Diminishing Marginal Product and the Law of 40 Variable Proportions Shapes of Total Product, Marginal Product and Average Product Curves Returns to Scale Costs
Unit 4: THE THEORY OF THE FIRM UNDER PERFECT COMPETITION	Perfect Competition: Defining Features Revenue Profit Maximization Supply Curve of a Firm Determinants of a Firm’s Supply Curve Market Supply Curve Price Elasticity of Supply
Unit 5: MARKET EQUILIBRIUM	Equilibrium, Excess Demand, Excess Supply Applications
Unit 6: NON-COMPETITIVE MARKETS	Simple Monopoly in the Commodity Market Other Non-perfectly Competitive Markets

Macroeconomics (English)

NCERT Class 12 Economics Book on Macroeconomics for English Medium
Units	Topics
Unit 1: INTRODUCTION	Emergence of Macroeconomics Context of the Present Book of Macroeconomics
Unit 2: NATIONAL INCOME ACCOUNTING	Some Basic Concepts of Macroeconomics Circular Flow of Income and Methods of Calculating National Income Some Macroeconomic Identities Nominal and Real GDP GDP and Welfare
Unit 3: MONEY AND BANKING	Functions of Money Demand for Money and Supply of Money Money Creation by Banking System Policy Tools to Control Money Supply
Unit 4: DETERMINATION OF INCOME AND EMPLOYMENT	Aggregate Demand and its Components Determination of Income in Two-sector Model Determination of Equilibrium Income in the Short Run Some More Concepts
Unit 5: GOVERNMENT BUDGET AND THE ECONOMY	Government Budget – Meaning and its Components Balanced, Surplus and Deficit Budget
Unit 6: OPEN ECONOMY MACROECONOMICS	The Balance of Payments The Foreign Exchange Market

Microeconomics (Hindi)

NCERT Class 12 Economics Book on Macroeconomics for Hindi Medium
Units	Topics
Unit 1	परिचय
Unit 2	उपभोक्ता के व्यवहार का सिद्धांत
Unit 3	उत्पादन तथा लागत
Unit 4	पूर्ण प्रतिस्पर्धा की स्थिति में फर्म का सिद्धांत
Unit 5	बाज़ार संतुलन
Unit 6	प्रतिस्पर्धाहित बाज़ार

Macroeconomics (Hindi)

NCERT Class 12 Economics Book on Macroeconomics for Hindi Medium
Units	Topics
Unit 1	परिचय
Unit 2	राष्ट्रीय आय का लेखांकन
Unit 3	मुद्रा और बैंकिंग
Unit 4	आय और रोजगार के निर्धारण
Unit 5	सरकारी बजट एवं अर्थव्यवस्था
Unit 6	खुली अर्थव्यवस्था – समष्टि अर्थशास्त्र

Apart from microeconomics and macroeconomics, CBSE also introduces the Indian Economic Development for class 12

NCERT Class 12 Economics Book – Indian Economic Development
Units	Topics
Unit 1: Development Experience (1947-90) and Economic Reforms since 1991	A brief introduction of the state of Indian economy on the eve of independence. Indian economic system and common goals of Five Year Plans. Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade. Economic Reforms since 1991: Features and appraisals of liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetization and GST
Unit 2: Current challenges facing Indian Economy	Poverty- absolute and relative; Main programmes for poverty alleviation: A critical assessment. Human Capital Formation: How people become resource; Role of human capital in economic development. Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification. Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies Infrastructure: Meaning and Types: Case Studies: Health: Problems and Policies – A critical assessment. Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
Unit 3: Development Experience of India	A comparison with neighbours India and Pakistan India and China Issues: economic growth, population, sectoral development and other Human Development Indicators

Steps Need To Follow To Download The NCERT Class 12 Economics Textbook?

NCERT e-Books for Class 12 economics can be downloaded by following certain steps. Follow the steps and get the digital form of the book in an easy way.

Go to the NCERT official site i.e https://ncert.nic.in/
Click on the “Publication” in the home page and from the drop down menu click on “PDF (I-XII)”
Enter “Select Class”, “Select Subject”, “Select Book Title” and click on “Go”
Download the complete book or chapters individually and then click on “Open” button for individual chapters OR
Click on the “Download Complete Book”
Download the chapters and take the print of it.

Importance of Class 12th Economics

Economics is one of the popular fields of study around the globe. While talking about business or industries or a country’s financial growth, it all depends on economic development.
Economics is a part of everyday life that cannot be ignored.
Job opportunities in economics are vast such as economic consultant, market research analyst, actuary, credit analyst, financial analyst, policy analyst, compensation and benefits manager, lawyer,business reporter and management consultant business reporter.
Every aspect of a country’s affairs is related to the economic dimension.